Surgery Partners Target of Unusually Large Options Trading (NASDAQ:SGRY)

Surgery Partners, Inc. (NASDAQ:SGRY) was the target of unusually large options trading activity on Thursday. Traders acquired 2,271 call options on the company. This is an increase of 172% compared to the average daily volume of 834 call options.

Surgery Partners Stock Performance

Shares of SGRY stock traded up $0.51 during trading on Thursday, reaching $17.11. 337,084 shares of the company’s stock were exchanged, compared to its average volume of 1,520,600. The stock has a market capitalization of $2.24 billion, a PE ratio of -28.53, a PEG ratio of 5.02 and a beta of 1.96. The firm’s fifty day moving average price is $14.35 and its 200-day moving average price is $14.37. Surgery Partners has a twelve month low of $11.41 and a twelve month high of $24.10. The company has a quick ratio of 1.69, a current ratio of 1.86 and a debt-to-equity ratio of 1.17.

Surgery Partners (NASDAQ:SGRY) last posted its earnings results on Tuesday, May 5th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.12. The company had revenue of $810.90 million during the quarter, compared to the consensus estimate of $797.69 million. Surgery Partners had a positive return on equity of 1.04% and a negative net margin of 2.28%.The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.04 earnings per share. As a group, sell-side analysts anticipate that Surgery Partners will post 0.25 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. US Capital Advisors set a $21.00 target price on Surgery Partners in a report on Wednesday, March 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Surgery Partners in a research report on Tuesday, May 26th. Cantor Fitzgerald reissued an “overweight” rating on shares of Surgery Partners in a research note on Wednesday, March 4th. TD Cowen decreased their price objective on shares of Surgery Partners from $28.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $17.00 target price on shares of Surgery Partners in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.18.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its holdings in Surgery Partners by 239.6% in the first quarter. PNC Financial Services Group Inc. now owns 2,907 shares of the company’s stock worth $35,000 after purchasing an additional 2,051 shares in the last quarter. Fifth Third Bancorp grew its holdings in Surgery Partners by 5,324.0% during the first quarter. Fifth Third Bancorp now owns 4,068 shares of the company’s stock worth $48,000 after buying an additional 3,993 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Surgery Partners by 45,640.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company’s stock worth $49,000 after acquiring an additional 2,282 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of Surgery Partners during the third quarter valued at approximately $121,000. Finally, Alpine Global Management LLC purchased a new position in Surgery Partners in the fourth quarter worth $175,000.

About Surgery Partners

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.